Sejong City Fully Lifts Land Transaction Permit Zone in Geumnam-myeon After 35 Years

38.39 Square Kilometers Including Yongpo-ri... Resolving Residents' Inconveniences

A view of Sejong City Hall. / Photo by Yonhap

On May 26, the Sejong city government announced that it will fully lift the land transaction permit zone designation for a 38.39 square kilometer area, including Yongpo-ri in Geumnam-myeon, starting from May 31. This marks the first time in 35 years that the designation has been completely lifted.

The Geumnam-myeon area was designated as a land transaction permit zone in June 1990 to curb sharp increases in land prices and prevent real estate speculation, following various regional development incentives such as the construction of the Multifunctional Administrative City.

Despite the government's recent trend of easing real estate regulations, the area has continued to face dual restrictions as both a land transaction permit zone and a development restriction zone, raising ongoing concerns about fairness.

Based on the results of a research study by the Daejeon Sejong Research Institute in January, the city lifted the land transaction permit zone designation for the Yongpo-ri area after an urban planning review on May 24, ending 35 years of restrictions.

Bang Seonghyeon, head of the Land Information Division, said, "With the lifting of the land transaction permit zone, we expect land transactions in the Geumnam-myeon area to become more flexible and residents' inconveniences to be resolved."

This content was produced with the assistance of AI translation services.